TuSimple, the binational company that is building an autonomous truck, said Nov. 28 that it received $55 million in series C funding.
Composite Capital led the round, joined by existing investors Sina and ZP Capital.
TuSimple said part of the funding will go toward its research and development centers in San Diego and Beijing. In addition, the business said it plans to expand testing to two truck fleets, one in China and the other in the United States. In addition, it plans to build out its production engineering team in Tucson, Arizona.
TuSimple’s technology business focuses on line-haul trucking, transporting cargo between ports, plants, warehouses and distribution centers. The business plans to begin testing its truck platform in Arizona by the end of the year.
TuSimple offers a “full-stack” solution, meaning that it includes all layers of software. That solution, the company said, combines technology for perception, localization, mapping, motion planning, control and actuation for use in autonomous trucking. The company combines data from cameras and radars through advanced sensor fusion to detect and track objects at distances greater than 650 feet (200 meters).
TuSimple said its technology can pinpoint a truck’s location to within about 4 inches (1 decimeter), even in challenging environments such as tunnels. Meanwhile, its decision-making system dynamically adapts to road conditions, changing lanes and adjusting driving speeds to maximize safety and efficiency.
Nvidia, the Silicon Valley company specializing in graphics processors and artificial intelligence, is a previous investor in TuSimple. The TuSimple vehicle uses Nvidia (Nasdaq: NVDA) components.
TuSimple was founded in 2015 and took in $20 million of funding in August.